Top Securities Regulator Mary Schapiro Leaving

WASHINGTON -- Mary L. Schapiro, who overhauled the Securities and Exchange Commission after the financial crisis, is expected to announce on Monday that she is stepping down as chairwoman of the agency, according to a report in The New York Times.

The report cited two Obama administration officials briefed on the matter who were not authorized to speak publicly.

The Times' report said that in recent days, the SEC. informed the White House and Treasury Department that Schapiro planned to leave in December.

She would become the first major departure from the Obama administration's team of financial regulators. Schapiro will also relinquish her position as one of the five members of the agency's commission, the group that oversees Wall Street and the broader financial markets.